Tag "RBI"

3 factors transforming the consumer payment experience

Consumer spending patterns evolved significantly during the previous year across all demographics. The real manifestation of cashless, paperless and seamless digital transactions is now led by mobile and internet based payments, thus fueling the growth for digital commerce. Nevertheless, digital

RBI Governor announces loans restructuring facility for small borrowers

By : Laxitha Mundhra

RBI Governor Shaktikanta Das today announced a major update for small borrowers. He said that borrowers who are struggling to pay loans during the pandemic can avail restructuring options. The restructuring option will be open to borrowers who hadn’t availed

Finzy receives NBFC-P2P certification from the Reserve Bank of India

By : CIOL Bureau

Finzy received its NBFC-P2P certification from the Reserve Bank of India (RBI). The P2P industry being regulated ensures that only players who adhere to specific standards of operations and stringent information security guidelines are allowed to function. This helps build the

Govt proposes Payments Regulatory Board under RBI in place of BPSS

By : CIOL Writers

In a bid to strengthen the grievance mechanism for the digital payments ecosystem, the government is replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) by setting up Payments Regulatory Board in the Reserve Bank

No GPS-enabled chip in Rs 2000 note: RBI

By : CIOL Writers

The demonetization of Rs 500 and Rs 1000 notes not only came in as a big shock for many but also set the rumor mill buzzing with new stories and rumors coming in every hour. Amongst all these rumors, one

Industry hails PM’s demonetization move as a new dawn for Indian economy

By : CIOL Writers

It’s “historic”, “a watershed moment” in the history of the Indian economy, a real “game-changer”, “revolutionary” etc etc. Well, looks like Industry cannot stop raving about PM Narendra Modi’s demonetizing of Rs 500 and Rs 1,000 notes. Though the stalwarts

UPI to go live on July 31: Pay for everything with your mobile

By : CIOL Writers

It cannot get faster, easier and convenient than this. RBI’s pet project Unified Payment Interface (UPI) will go live on July 31, giving a big boost to the institution’s efforts to make India cash-less economy. With UPI, all that a

Banks vs Mobile Wallet Players

By : CIOL Writers 1

Digital banking customers being keen to try out new payment services are making big Indian banking giants worrisome. Many Indian banks, including India’s largest lender State Bank of India, ICICI and HDFC are gearing up to take on a battle

Bridging the tech mile for payment banking

Sonal Desai The RBI’s decision to give an in-principle nod to 11 enterprises for setting up payment banks has perked up the technology industry. The simple reason being, payment banks are not just normal functioning banks; their focus is to

RBI to open technology wing

MUMBAI, INDIA: In a bid to keep itself abreast of cyber security threats, the Reserve Bank of India (RBI) is planning to set up an information technology wing. Confirming the development, Raghuram Rajan, Governor, RBI, said, “We have to worry